<slide_break></slide_break> ## Takeaways from Chapter 6 - Test * **BIG IDEA**: The Minimum Viable Product * Goal is to test articulated hypotheses * MVP different from a prototype, beta test, mockup because of it's explicit purpose * Many types of MVP: video, concierge, * Visionaries or early adopters accept expect a product that is incomplete. They want to be ahead * Early adopters want to feel special: be the first one on the block with a product, or have an unfair advantage over other companies. * If you leave out features, customer often fills in the blanks which may suggest missing features <slide_break></slide_break> ### Summary of Chapter 6 * Introducing MVP: designed to test a hypothesis. Not necessarily a prototype. * Visionaries or early adopters accept in fact expect a product that is incomplete. They want to be ahead. Early adopters want to feel special: be the first one on the block with a product, or have an unfair advantage over other companies. * Also realize that if you leave out features, customer will often fill in the blanks in their mind giving you info about what feature to add or not. * How can you test whether 10% of trial users will install, if you can't even get trial users? * MVP: any work beyond whats needed to learn / prove the hypothesis is waste! * Food on the Table: I thought it an odd idea: delivering customized recipes based on specials in the local grocery store. An extended scenario of an MVP is described. Lessons: * While CEO was visiting customer to learn what recipes would be worth while, this very inefficient MVP is different from a restaurant where the owner is serving customers personally. In the former case, we are trying to learn. In the case of the restaurant, this is not a test, it is the real product. * Aardvark uses "wizard of oz testing" which to me sounds just like concierge! * Is the MVP philosophy at odds with 'quality'? * No. But don't build quality, or beauty because you assume it is a customer requirement. * Sometimes that's not what matters initially. * If you discover that your MVP is failing because people think its ugly or cannot figure out how to use it, that's something else * Remove any feature, process or effort that does not contribute directly to learning. * MVP thoughts * Customers don’t care how difficult or costly it is to provide something; and the thing they love most might be very minor in your eyes * Role of courage: you need to dare to respond to what you learn even if it is not what you thought or intuited. * Commit to iterate * Even if the MVP fails decide up front that you will pivot and iterate <slide_break></slide_break> ### Discussion Questions for Chapter 4-6 * Preparation * Someone to present Zappos, Kodak, HP, VLS cases, CFPB, * What are some of the hypotheses that had to be tested in Zappos case? List them. * Are people willing to buy premium shoes online? * What kinds of shoes, and prices do better? * Will customers will appreciate a very liberal return policy over a big discount? * What kind of photography is required? Will videos help sales? * What is a concierge product and in Zappos case? * What are "Leap of Faith" Assumptions? What were they for Zappos? What were they for HP? What were they for Kodak? How are they different from other assumptions? * Those which if not true will cause the business to fail or need to be rethought. The riskiest assumptions. Crux of the vision. * Zappos: People will buy shoes online * HP: Employees have a desire to do volunteering * Whats an MVP? What are the kinds of MVP? What would an MVP be for your project? * video * web site * sign up for beta waiting list * concierge product * mockup/prototype/3d rendering * What does "Genchi Gembutsu" mean to you? "Go see for yourself"? * Give an example of analysis paralysis * Dropbox: Were there previous products? What was the key leap of faith value assumption? How could it be tested in an MVP? * yes there were lots. But they were all hard to use * that if the product was seamless to use people would in fact flock to it * hard to test in an mvp because it was difficult to prove seamlessness * but then they made a video to fake the product * added tons of people to the beta waiting list. * What did you think of Food on the Table service? * What about Craig's List, eBay? Can you think of products that are kind of known for their roughness? First release of iPod? Original cordless phones, original cell phones? Original laptops? * Seems very complicated and elaborate * Is it solving a real problem? * What is the direct connection between the mvp and the hypotheses? * An mvp should clearly be designed to validate a hypothesis. * What are some MVP Challenges? * IP protection might be impeded if you reveal your product too early. You might loose your ability to patent * Competitors might learn about your product and rip it off. In fact the biggest challenge is to be noticed at all! Ideas are cheap! * Damaging the brand? You should be able to insulate yourself by making sure customers know this is a test or a alpha product, but worse comes to worse, give it a separate identity. Change the name! * Bad for morale: team gets discouraged by bad news or failure to penetrate * Is the MVP approach at odds with a good quality? What are the risks and are they worth it? * give the company or the name a bad reputation? * the product concept may be good but because of bad quality it is not appreciated? * OTOH in the startup phase we don't know who the user or the product is so how do we know what quality is? * Is the MVP approach workable for hardware products? * Why not? Because it costs too much to create an MVP * No: MVP is not necessarily a prototype!